The last time I used Office for Mac was way back in OS 9 days. But Microsoft today announced that it will again ship Outlook for Mac next year.
According to MS, the new Outlook is 'being built from the ground up as a Mac OS X application using Cocoa. It will have a new database that delivers a reliable, high performance, and integrated experience with Mac OS X. Users will be able to back-up with Time Machine and search email, calendar and contacts with Spotlight. Additionally, Outlook for Mac and the rest of Office will include Information Rights Management, which helps keep sensitive information for only audiences that you intend. IRM compatibility will make it possible for Mac users to share and receive sensitive information using Microsoft Office tools.'
Microsoft, welcome to 2006. Honestly, why bother? Snow Leopard features full Exchange integration using Mail, iCal and Address and it's included on every Mac.